Guan Yongyi, the former chairman of Yongyi International, was accused of conspiring with others to blackmail Xu Zhiming (formerly known as Xu Zhiming), the then chairman of China United Petrochemical (now known as Yanchang Petroleum International), and asked the other party to hand over 100 million shares of China United Petrochemical.
Xu Zhiming recovered 135 million yuan from Guan Yongyi through civil means in 2009, but Guan claimed that the two had an oral agreement.
The judge of the High Court handed down the judgment and believed that Xu told the story of being threatened. On the contrary, the officer failed to prove the oral agreement. Therefore, he ruled that Xu Sheng litigated and ordered the officer Yongyi to pay Xu 135 million yuan, as well as pay Xu's legal costs .
The plaintiff is Xu Zhiming, and the defendant is Guan Yongyi.
Xu Zhiming said that he was threatened to hand over his shares, and he won the lawsuit under civil recovery.
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Xu claimed to have borrowed shares to the government under threat
Xu alleged that according to Guan Yongyi's instructions, many people threatened him in his office in March 2009 to hand over 100 million shares of China United Petrochemical.
Xu said that under threat, he called another shareholder of China United Petrochemical, borrowed 100 million shares from the other party for 135 million yuan, and transferred them to Guan Yongyi.
Guan Yongyi said that the two had a verbal agreement
Guan Yongyi denied making threats, and said that in order to support the stock price of China United Petrochemical, he had an oral agreement with Guan Yongyi. If Guan Yongyi bought shares of China United Petrochemical for 200 million yuan, he would give 250 million shares to Guan as a gift.
The official also pointed out that some of the shares have been transferred, but about 9.993 million shares are still in arrears.
Claims of oral agreement failed to prove, judge finds
In his judgment, the judge pointed out that Guan Yongyi failed to prove his oral agreement, and also lacked documentary evidence to support it, and ruled that there was no such oral agreement.
On the contrary, Xu You told the court the facts about being threatened. The judge believed that Xu was an honest and reliable witness, and finally ruled that Xu won the case.
Case number: HCA 1479/2009
Former National Committee of the Chinese People's Political Consultative Conference Xu Zhiming fined 20,000 yuan for destroying foreign male cell phones 31.36 million to buy three houses
